azogar Posted December 14, 2020 Share Posted December 14, 2020 just for balance guys..... Quote Link to comment Share on other sites More sharing options...
jiltedjen Posted December 14, 2020 Share Posted December 14, 2020 I wonder how long it will be before the general public will ever accept bitcoin (not talking about owning any) but accept the concept? I don’t think most will, will time help? Will it’s continued expansion and acceptance help? How long will that take? even educated people, smart people still think it’s some kind of scam, a pyramid scheme, that’s its image to the vast majority of people. perhaps it will take years for the young early adopters to be in positions of power, to become influencers etc. maybe it never will need to have a good image to be known as gold 2.0 moving forward, it will be for those ‘in the know’ sadly due to its decentralised nature it doesn’t really have anyone publishing good advertising, most of it is based on ‘in the know’ memes, which is funny for those who ‘get’ that, but what about general education? I spoke to a lot of people about bitcoin for years, and basically no-one I know in person ever bought any, a few people later down the line did come back and say I was right. Even with links to PayPal acceptance or the other large companies it’s still somehow ‘just a scam’ its upsetting how poor bitcoins image is. think it’s just going to take time. I have not spoken to anyone is person for years about bitcoin or investing as I rather keep it on the ‘down low’ that i has a nice stash. Don’t want stupid people who thinks it’s possible to steal it breaking into my house. it maybe means most of the people to do really well are very quiet about it, and it’s only the overexcited noobs, which bang on about it. I guess it could take 20 years before bitcoin is seen as an asset class on its own with no comparable rival instead of a scammy pyramid scheme. perhaps with PayPal’s acceptance I thought ‘this is finally going mainstream’ when it truth even that was reported on quite negatively by the BBC ‘maybe someone at the top has a load as I don’t understand why they would accept it’ type of comments. we are still very very firmly in the early adopter phase, which for those who have been in the space for 8 years feels a bit strange. I’m starting to feel extremely lucky that I listened to max kieser way back in 2013 on Russia today! and being in a dark place of mind that I was soo receptive to the idea, right place, right time, right frame of mind. the average joe doesn’t understand bitcoin as they don’t understand money creation, and have no idea about even basic concepts of inflation. They think it’s a solution looking for a problem. Quote Link to comment Share on other sites More sharing options...
goldbug9999 Posted December 14, 2020 Share Posted December 14, 2020 I wonder how long it will be before the general public will ever accept bitcoin (not talking about owning any) but accept the concept? I don’t think most will, will time help? Will it’s continued expansion and acceptance help? How long will that take? even educated people, smart people still think it’s some kind of scam, a pyramid scheme, that’s its image to the vast majority of people. You obviously havn't spoken to many younger people (say late 20's or under) about bitcoin then. There is an entire upcoming generation of people for whole its all obvious and natural. Quote Link to comment Share on other sites More sharing options...
warpig Posted December 14, 2020 Share Posted December 14, 2020 the average joe doesn’t understand bitcoin as they don’t understand money creation, and have no idea about even basic concepts of inflation. It's seen as a speculative asset for nerds. Price volatility doesn't help... Quote Link to comment Share on other sites More sharing options...
jiltedjen Posted December 14, 2020 Share Posted December 14, 2020 You obviously havn't spoken to many younger people (say late 20's or under) about bitcoin then. There is an entire upcoming generation of people for whole its all obvious and natural. Honestly I just don’t think this is true. there are a lot of young people involved in bitcoin yes. but I’m talking about the general public, most 20 somethings still have no idea. At lease something like 99.9% still have no idea, most are only just at the ‘oh yeah bitcoin I heard about that or read something about it, some scam or something I don’t understand’ Quote Link to comment Share on other sites More sharing options...
jiltedjen Posted December 14, 2020 Share Posted December 14, 2020 It's seen as a speculative asset for nerds. Price volatility doesn't help... I suppose the internet started that way also, just a few nerds for many years, then everyone got very very over excited when it finally caught on causing a huge .com bubble which inflated everything and anything linked to the internet. perhaps one day bitcoin will have its own .com huge massive over expansion followed by the mother of busts, but I would kind of expect one day bitcoin would over each then settle to something more mundane Quote Link to comment Share on other sites More sharing options...
MonsieurCopperCrutch Posted December 14, 2020 Share Posted December 14, 2020 It's seen as a speculative asset for nerds. Price volatility doesn't help... You mean just like how email started? How the internet started? How any valuable technology started... Quote Link to comment Share on other sites More sharing options...
markyh Posted December 14, 2020 Share Posted December 14, 2020 Honestly I just don’t think this is true. there are a lot of young people involved in bitcoin yes. but I’m talking about the general public, most 20 somethings still have no idea. At lease something like 99.9% still have no idea, most are only just at the ‘oh yeah bitcoin I heard about that or read something about it, some scam or something I don’t understand’ The public will be educated once the big boys and institutions have filled there boots. Then the public will talk in terms of satoshi’s, and anyone they know that owns large fractions or whole bitcoin will be seen as rich. Own multi bitcoin, will mean you are a multi millionaire. it’s Sad, I stopped posting on my Facebook page about it in 2018. I will resume again once we comfortably have passed $20k. My view is some people “get it” , understand money and finance, many don’t. We will be wealthy, they won’t. They way of the world. Quote Link to comment Share on other sites More sharing options...
MonsieurCopperCrutch Posted December 14, 2020 Share Posted December 14, 2020 (edited) Honestly I just don’t think this is true. there are a lot of young people involved in bitcoin yes. but I’m talking about the general public, most 20 somethings still have no idea. At lease something like 99.9% still have no idea, most are only just at the ‘oh yeah bitcoin I heard about that or read something about it, some scam or something I don’t understand’ It's still early doors which is why I am still stacking sats. To get the other 99% onboarded you need to make it idiot-proof. Look how complex it was to send emails in the 90's and to use the internet. I had to go to the University computer lab to look at Playboy.com. Edited December 14, 2020 by MonsieurCopperCrutch Quote Link to comment Share on other sites More sharing options...
markyh Posted December 14, 2020 Share Posted December 14, 2020 It's seen as a speculative asset for nerds. Price volatility doesn't help... Not even moving more than 12-16% or less on a weekly basis these days. Never seen it this stable. Quote Link to comment Share on other sites More sharing options...
jiltedjen Posted December 14, 2020 Share Posted December 14, 2020 i think i honestly fell into the trap of thinking it was a little more mainstream than it actually is. too much 'circle jerking' as its called. i was a bit shocked i protested against someone calling it a scam elsewhere, and being totally out numbered and drowned out with plenty of 'i don't know much about bitcoin but' posts, even with the Paypal links etc, people are just locked into 'its a scam' mindset, and frankly i started sounded like i was proposing a scam by saying 'do your own research', think there are soooo many scams out there, that when the 'real thing' actually comes people for safety are just automatically closed in some ways it makes me think maybe i should continue to stack Sats, it would be 10-30 years before the average joe doesn't automatically switch off at the very mention of it. Quote Link to comment Share on other sites More sharing options...
Jonesy74 Posted December 14, 2020 Share Posted December 14, 2020 Maybe its different in different social circles. At my office back at the end of 2017 almost everyone had a bitcoin chart open on their computer all day, and everyone seemed to have a portfolio of alts and was well versed on the intricacies of each one. Quote Link to comment Share on other sites More sharing options...
MonsieurCopperCrutch Posted December 14, 2020 Share Posted December 14, 2020 i think i honestly fell into the trap of thinking it was a little more mainstream than it actually is. too much 'circle jerking' as its called. i was a bit shocked i protested against someone calling it a scam elsewhere, and being totally out numbered and drowned out with plenty of 'i don't know much about bitcoin but' posts, even with the Paypal links etc, people are just locked into 'its a scam' mindset, and frankly i started sounded like i was proposing a scam by saying 'do your own research', think there are soooo many scams out there, that when the 'real thing' actually comes people for safety are just automatically closed in some ways it makes me think maybe i should continue to stack Sats, it would be 10-30 years before the average joe doesn't automatically switch off at the very mention of it. That's why it's still early doors and the time to accumulate. Until your average Joe numpty can easily buy and store their sats without having to think about it then we are still in the early adoption stage. Quote Link to comment Share on other sites More sharing options...
winkie Posted December 14, 2020 Share Posted December 14, 2020 Problem with coin those with it need a continuas number of punters buying into it so as to increase the value of their own holdings....... Quote Link to comment Share on other sites More sharing options...
jiltedjen Posted December 14, 2020 Share Posted December 14, 2020 Maybe its different in different social circles. At my office back at the end of 2017 almost everyone had a bitcoin chart open on their computer all day, and everyone seemed to have a portfolio of alts and was well versed on the intricacies of each one. sounds like bliss! i know only one other serious investor who was lucky enough to have 30-40 BTC from buying mining contracts over the years, far more than me, the last few weeks he has not been at work as he is 'ill' anyone else only has tiny fractions only maybe £50 worth, so dont really register, and frankly they dont even check the price, and have forgotten about it. i would love to see some of the whales actually advertising the plus points of bitcoin, i think in America that actually happens. If i had some property or access to a local shop i would at least support BTC with a bitcoin ATM. Quote Link to comment Share on other sites More sharing options...
jiltedjen Posted December 14, 2020 Share Posted December 14, 2020 Problem with coin those with it need a continuas number of punters buying into it so as to increase the value of their own holdings....... think is its still growing but slowly, its just having to permeate the nerds and the geeks first, the I.T bods, the engineers, the scientists, then the greedy, the bankers, the money seekers, then moving on to the savvy, the diversified, and way way later the general public. plus newer generations are coming of age without it being 'new' and with age and time in existence grows trust Quote Link to comment Share on other sites More sharing options...
markyh Posted December 14, 2020 Share Posted December 14, 2020 Problem with coin those with it need a continuas number of punters buying into it so as to increase the value of their own holdings....... That is true of any asset, for prices to rice demand MUST exceed supply. but Bitcoin is the only asset i can think of where supply is fixed and dropping, (except rare old paintings and classic cars maybe), as demand every 4 years is rising. If bitcoin was a physical "widget" , the Chinese would be busily making billions more Bitcoin widgets to fill demand, until the price dropped to under $1. Quote Link to comment Share on other sites More sharing options...
Hecto Posted December 14, 2020 Share Posted December 14, 2020 A lot of crypto is still not that straightforward to buy. This example is, how to buy Axion. Could not fit all the instructions on. Too much hassle for a lot of people. Quote Link to comment Share on other sites More sharing options...
jiltedjen Posted December 14, 2020 Share Posted December 14, 2020 A lot of crypto is still not that straightforward to buy. This example is, how to buy Axion. Could not fit all the instructions on. Too much hassle for a lot of people. Alt coins are not really worth even discussing. Not even anywhere near the same league of bitcoin, bitcoin is cryptocurrency, alts only serve to damage the industry as a whole, they make it even more confusing for the average joe to get bitcoin and makes bitcoin seem even more scammy the worst being BCH, as that’s scammy through and through. alt coin investors are sad hangers on to BTC. those with enough smarts to read about cryptocurrency but not enough common sense to own bitcoin instead double down on risk in an already risky sector, why not just burn your money? At least you get heat from it Quote Link to comment Share on other sites More sharing options...
warpig Posted December 14, 2020 Share Posted December 14, 2020 I suppose the internet started that way also, just a few nerds for many years, then everyone got very very over excited when it finally caught on causing a huge .com bubble which inflated everything and anything linked to the internet. perhaps one day bitcoin will have its own .com huge massive over expansion followed by the mother of busts, but I would kind of expect one day bitcoin would over each then settle to something more mundane It's too confusing for the general public and most people still struggle with computers. Anything more than e-mail and surfing and most people are lost. Mention blockchain, hashing, cryptographic ledgers or distributed network and they look like a rabbit stuck in your headlights. Let's be frank - Most people don't even invest in shares because they don't know what they're doing... There's no central company or regulatory association behind it... they can't go and speak to someone on a phone or behind a till if they get a problem... they've heard horror stories of it being used to fund terrorism, crime and tax evasion. I could go on... but even if they understood it, they still wouldn't trust it. Quote Link to comment Share on other sites More sharing options...
warpig Posted December 14, 2020 Share Posted December 14, 2020 Problem with coin those with it need a continuas number of punters buying into it so as to increase the value of their own holdings....... That's why they're trying to tempt people to sell their gold... Got to feed the bottom layers of the ponzi! 🤪 Quote Link to comment Share on other sites More sharing options...
jiltedjen Posted December 14, 2020 Share Posted December 14, 2020 It's too confusing for the general public and most people still struggle with computers. Anything more than e-mail and surfing and most people are lost. Mention blockchain, hashing, cryptographic ledgers or distributed network and they look like a rabbit stuck in your headlights. Let's be frank - Most people don't even invest in shares because they don't know what they're doing... There's no central company or regulatory association behind it... they can't go and speak to someone on a phone or behind a till if they get a problem... they've heard horror stories of it being used to fund terrorism, crime and tax evasion. I could go on... but even if they understood it, they still wouldn't trust it. i suppose it might be up to bigger general investors giving exposure to the general public than the general public themselves, investment trusts giving the average joe exposure without them even knowing. must like pretty much any other asset class, the average joe understands property and that's about it, but they do understand paying into a pension without knowing much about shares, reits, bonds, cash. i suppose the general public has always been a bit of a lost cause. They need the world to change around them and then to adapt to it bit by bit. Much like the internet and e-mail, for some it took 20 years to start even using computers, eventually it became part of life. im sure when e-mail came out all the average joe was saying 'whats wrong with fax?', same with the telephone, and even the wheel. Slowly like it or not the world changes around you. perhaps the places like greyscale are far more important than average Linda's ignorance . Quote Link to comment Share on other sites More sharing options...
MonsieurCopperCrutch Posted December 14, 2020 Share Posted December 14, 2020 That's why they're trying to tempt people to sell their gold... Got to feed the bottom layers of the ponzi! 🤪 Not one person is trying to temp anyone to sell their gold. It's the knowledgeable investors who are diversifying away from gold into Gold 2.0, aka Bitcoin. The decoupling of Bitcoin away from gold has begun and long may it continue. Quote Link to comment Share on other sites More sharing options...
markyh Posted December 14, 2020 Share Posted December 14, 2020 A lot of crypto is still not that straightforward to buy. This example is, how to buy Axion. Could not fit all the instructions on. Too much hassle for a lot of people. Take that shitcoin a bugger off, we if it's not a top ten Alt , not worth any discussion. There is nothing Axion can do for you except lose you FIAT invested in it, it will never see an Alt season either, that was 2017. you missed the boat. Quote Link to comment Share on other sites More sharing options...
warpig Posted December 14, 2020 Share Posted December 14, 2020 i suppose it might be up to bigger general investors giving exposure to the general public than the general public themselves, investment trusts giving the average joe exposure without them even knowing. must like pretty much any other asset class, the average joe understands property and that's about it, but they do understand paying into a pension without knowing much about shares, reits, bonds, cash. i suppose the general public has always been a bit of a lost cause. They need the world to change around them and then to adapt to it bit by bit. Much like the internet and e-mail, for some it took 20 years to start even using computers, eventually it became part of life. im sure when e-mail came out all the average joe was saying 'whats wrong with fax?', same with the telephone, and even the wheel. Slowly like it or not the world changes around you. perhaps the places like greyscale are far more important than average Linda's ignorance . I think whoever made the Casascius Bitcoin was on to something... it doesn't have to be physical, but it can be for those that are less technologically able. They still weren't perfect for the general public, because they were a use-one-coin, but they were a step in the right direction. Quote Link to comment Share on other sites More sharing options...
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